NEW YORK—A U.S. judge on Thursday granted a request from prosecutors to try some of their charges against Sam Bankman-Fried in a second trial next year separate from his scheduled Oct. 2 trial over the collapse of now-bankrupt cryptocurrency exchange FTX. Bankman-Fried, 31, will be tried on March 11, 2024, on five counts, including bank…
Bankman-Fried to Get 2nd Trial on Bank Fraud, Bribery Counts
June 15, 2023
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Business & MarketsCrime and IncidentscryptocurrencyFTXMarketsNew YorkRegional & State NewsSam Bankman-FriedState NewsUSUS News
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Stock Market Today: Wall Street Jumps, and Its Winning Streak Kicks Into a Higher Gear
NEW YORK—Stocks swept higher Thursday, revving the longest rally for Wall Street in a year and a half into a higher gear. The S&P 500 rallied 1.2 percent to reach heights untouched since April 2022. The Dow Jones Industrial Average climbed 428 points, or 1.3 percent, while the Nasdaq composite rose 1.1 percent. Homebuilder Lennar…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 15)
June 15, 2023
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Benchmark U.S. crude oil for July delivery rose $2.35 to $70.62 a barrel Thursday. Brent crude for August delivery rose $2.47 to $75.67 a barrel. Wholesale gasoline for July delivery rose 9 cents $2.64 a gallon. July heating oil rose 12 cents to $2.48 a gallon. July natural gas rose 19 cents to $2.53 per…
How Major US Stock Indexes Fared June 15
Wall Street staged a broad-based rally, with the S&P 500 notching the biggest gain yet in its recent winning streak. The benchmark index rose 1.2 percent Thursday. The Dow was up 428 points, and the Nasdaq gained 1.1 percent. Treasury yields fell after mixed reports on retail sales, manufacturing and unemployment claims raised hopes the…
Target Facing Major Pushback Over Transgender Controversy as Stock Price Drops
June 15, 2023
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Target is facing stock losses after a massive pushback over transgender merchandise in its stores. Shareholders were hit with lowered projections, according to a report from Bank of America’s Global Research division on June 14, as Target faces the worse downgrade in three years. Many customers have been boycotting Target over its pro-LGBT stance since May, ahead of…
New Zealand’s Economy Dips Into Recession as Higher Interest Rates Bite
WELLINGTON, New Zealand—New Zealand’s economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show. Gross domestic product fell by 0.1 percent in the March quarter, following a revised 0.7 percent fall in the previous quarter, Statistics New Zealand said. That fulfils the nation’s definition of a recession, which…
Retail Sales Rose 0.3 Percent in May Despite Pressure From Higher Inflation and Interest Rates
NEW YORK—Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3 percent from April to May, boosted by stronger sales of auto and parts dealers. Economists had been expecting a decline in sales for the month….
Number of Americans Filing for Jobless Claims Is Elevated for 2nd Straight Week
June 15, 2023
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The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve’s interest rate hikes over the past year may taking hold in what’s proved to be a resilient job market. U.S. applications for jobless claims were 262,000 for the week ending June 10, the Labor Department reported…
ECB Lifts Interest Rates to 22-year Highs
June 15, 2023
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Business & MarketsECBeconomic policieseconomyEuropeeurozonehikeinflationMarketsPolicyratesrecessionWorld
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LONDON—The European Central Bank raised interest rates for the eighth successive time, as expected, on Thursday and signalled further policy tightening, as it battles high inflation. The central bank for the 20 countries that share the euro also said it expected inflation to stay above its 2 percent target through 2025 and hinted once again…
Wall Street Opens Lower on Concerns Over Hawkish Fed
Wall Street opened lower on Thursday, with the S&P 500 and Nasdaq retreating from 14-month highs as the Federal Reserve signalled that interest rates could rise further this year. The Dow Jones Industrial Average fell 33.35 points, or 0.10 percent, at the open to 33,945.98. The S&P 500 opened lower by 7.26 points, or 0.17…
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